Venture Visionary Partners LLC Sells 81 Shares of The Progressive Co. (NYSE:PGR)

Venture Visionary Partners LLC reduced its position in shares of The Progressive Co. (NYSE:PGR) by 1.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,863 shares of the insurance provider’s stock after selling 81 shares during the quarter. Venture Visionary Partners LLC’s holdings in Progressive were worth $1,741,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castleview Partners LLC lifted its position in Progressive by 2.7% during the third quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 45 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Progressive by 21.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 46 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Progressive by 11.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 455 shares of the insurance provider’s stock worth $95,000 after acquiring an additional 48 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in Progressive by 10.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 509 shares of the insurance provider’s stock worth $106,000 after acquiring an additional 48 shares during the last quarter. Finally, Graypoint LLC raised its position in Progressive by 1.2% during the second quarter. Graypoint LLC now owns 4,202 shares of the insurance provider’s stock valued at $873,000 after purchasing an additional 49 shares during the period. 85.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PGR. Jefferies Financial Group boosted their target price on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price target on shares of Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Roth Mkm increased their price objective on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Barclays assumed coverage on shares of Progressive in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $367.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $268.81.

Progressive Price Performance

PGR opened at $250.74 on Tuesday. The firm has a market capitalization of $146.86 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 0.70 and a beta of 0.35. The business’s 50-day moving average is $249.36 and its two-hundred day moving average is $224.53. The Progressive Co. has a 1 year low of $149.14 and a 1 year high of $260.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

Insider Activity at Progressive

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of Progressive stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the transaction, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Progressive news, insider Steven Broz sold 2,982 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the sale, the insider now owns 29,334 shares of the company’s stock, valued at approximately $7,626,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the transaction, the director now directly owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,862 shares of company stock valued at $17,926,234 over the last 90 days. Insiders own 0.34% of the company’s stock.

Progressive Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.